Evertec, Inc. (NYSE:EVTC) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Evertec, Inc. (NYSE:EVTCFree Report) by 44.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,699 shares of the business services provider’s stock after buying an additional 525 shares during the period. Fifth Third Bancorp’s holdings in Evertec were worth $62,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its position in Evertec by 4,525.0% in the fourth quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider’s stock valued at $26,000 after buying an additional 724 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Evertec by 199.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the business services provider’s stock valued at $41,000 after buying an additional 794 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Evertec in the fourth quarter valued at about $54,000. Bridgefront Capital LLC acquired a new position in Evertec in the fourth quarter valued at about $206,000. Finally, Cibc World Markets Corp acquired a new position in Evertec in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Evertec Price Performance

Evertec stock opened at $35.61 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of 17.89 and a beta of 0.99. Evertec, Inc. has a 52-week low of $28.76 and a 52-week high of $38.56. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.69. The company’s 50 day moving average is $35.52 and its two-hundred day moving average is $34.86.

Evertec (NYSE:EVTCGet Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $228.79 million for the quarter, compared to analysts’ expectations of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. On average, research analysts expect that Evertec, Inc. will post 2.63 EPS for the current fiscal year.

Evertec Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, May 13th. Evertec’s dividend payout ratio is currently 10.05%.

Insider Buying and Selling at Evertec

In other Evertec news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $36.44, for a total value of $1,457,600.00. Following the sale, the executive vice president now directly owns 92,509 shares in the company, valued at $3,371,027.96. This trade represents a 30.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ivan Pagan sold 6,852 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $36.65, for a total value of $251,125.80. Following the completion of the sale, the director now owns 12,473 shares in the company, valued at approximately $457,135.45. This represents a 35.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,391 shares of company stock valued at $2,662,856 in the last quarter. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. William Blair restated an “outperform” rating on shares of Evertec in a report on Thursday, February 27th. Susquehanna set a $39.00 price target on Evertec and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Raymond James Financial upped their price target on Evertec from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods increased their target price on Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

View Our Latest Stock Analysis on Evertec

Evertec Company Profile

(Free Report)

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

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Institutional Ownership by Quarter for Evertec (NYSE:EVTC)

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